AT&T Inc. (NYSE:T) Stock Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in AT&T Inc. (NYSE:T) by 48.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,674,586 shares of the technology company’s stock after selling 2,468,595 shares during the quarter. Renaissance Technologies LLC’s holdings in AT&T were worth $51,111,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

AT&T Price Performance

NYSE T opened at $21.78 on Wednesday. The stock has a 50-day simple moving average of $19.72 and a 200 day simple moving average of $18.26. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The stock has a market capitalization of $156.17 billion, a PE ratio of 11.71, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.10%. AT&T’s payout ratio is 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.